Cyber Privacy Liability Insurance

Coverage available on a menu-driven cyber liability coverage for e-commerce exposures.

OVERVIEW

At a Glance

Approximately every 3 ½ seconds a new threat is unleashed by cyber criminals into the online world of the internet. These criminals can range from middle schoolers who vandalize websites to international terrorists who target a country’s defense infrastructure.

The Cyber Privacy Liability policy available through Mercer Health & Benefits Administration LLC, has been tailored for Court Reporters and Captioners to provide coverage for damage done to your business as well as third parties.

Benefit Features

Coverage for damages to third parties caused by a breach of network security

Coverage for loss resulting from administrative or operational mistakes

Breach of privacy coverage — includes damages resulting from alleged violations of HIPAA, state and federal privacy protection laws and regulations

This is often a misconception by policyholders and we find that the majority of errors & omissions policies do not cover cyber or privacy breaches. An E&O policy typically limits coverage to claims arising from negligence in the performance of specifically defined services and excludes coverage for criminal or intentional acts of insured’s or their employees.

47 of 50 states require a breach to be reported to those affected if any personal identifiable information (PII) is leaked. Any company who does not report these breaches is subject to hefty fines and penalties from various state and industry regulators. If you are a firm servicing clients in multiple states, a single breach can be a costly in just legal expenses to translate the requirements of each state's law. Having the proper Cyber Privacy Liability coverage in place can provide assistance and help cover these expenses.